IPO lock-in expiry in January: Why investors in Tata Capital, LG Electronics, HDB and 24 companies should be on alert!

IPO lock-in expiry in January 2026: The IPO rush might be just picking up for 2026, but it’s an important period for investors who participated in some of the marquee IPOs in the last quarter of 2025.  According to an analysis by Nuvama Alternative & Quantitative Research, the Indian stock market is entering a period where a large number of shares will become eligible for trading. Between December 2025 and March 2026, 106 companies will see their pre-listing shareholder lock-in expire. The total value of these shares is approximately $24-26 billion.

Nuvama’s data shows that while this is a huge amount of stock, not all of it will necessarily be sold. A large portion of these shares is held by promoters and promoter groups who may choose to keep their holdings. However, for investors, these dates are important as they often lead to increased trading activity.

The data is part of Nuvama’s broader review of pre-listing shareholder lock-ins opening between December 2025 and March 2026, which together cover 106 companies. January alone accounts for a significant portion of these expiries.

Nuvama’s analysis on market impact

The research by Nuvama Alternative & Research provides three key takeaways for market participants:

• Risk of “Supply Shocks”: Nuvama helps investors spot companies where a massive portion of total equity could enter the market at once. For instance, Anthem Biosciences (69%), Travel Food Services (66%), and Crizac (60%) see a significant percentage of their shares become tradable.
• The “Promoter” Cushion: Nuvama clarifies that while the total dollar value is high, not all shares will be sold. A large portion is held by promoters who may choose to keep their stakes.
• Performance Tracking: Nuvama tracks price performance compared to the issue price. This allows investors to see if shareholders are currently in profit (and likely to sell) or at a loss (and likely to hold).

The firm explains that anchor investors, investors that include mutual funds and foreign institutions, are typically restricted from selling their shares for 30 or 90 days after an IPO. When these periods end, the “overhang” of shares is removed. Nuvama suggests that market participants track these dates closely because the sudden availability of a large number of shares can sometimes put pressure on the stock price if institutional investors decide to book profits.

Companies with lock-ins opening in January 2026

Nuvama clarifies that their study includes all businesses listed until late 2025 and covers both promoter and non-promoter shareholders to give a full picture of the potential supply of shares.